Fibonacci Algo - Long

20 มิ.ย. 2018

Automatic Fibonacci retracement entry, stop loss and extension target level as apart of a customisable strategy.
Automatic plots of 23.6% 38.2%, 50%, 61.8%, 65%, 78.6% and -23.6, -61.8% and -100% levels.

Customisable Fib Length - Time period over which max and min pivots are chosen.
Customisable Offsetfib - Offsets the pivots and sell zone as your entry position
will be some time after the upper and lower pivots are set.

Vegas Wave - Automatic plot. Shows price relative to wave and EMA crossover - See my 'Vegas Wave' code for more of an explanation.

A strategy based off buying the 50-618 with a defined stop loss the other side of the 65 or 786 can easily be formulated.
This tool will automatically plot those points but a defined Risk Management strategy will always be needed.
The 236 and 382 region can also be plotted, allowing for lesser retracements coinciding with wave 4 pullbacks ( Elliott Wave Traders).

Works best in Bullish trends but will work on all timeframes (Bullish correction in an downtrend also possible).
Previous pivots shown but be careful to identify which of the several pivots you are using.
Start at a larger timeframe and move down. (Entries consistent on several timeframes are golden)

Pivots and retracements are dynamic. Be sure to note your entry and targets.
Works well when used in combination with an oscillator which highlights Divergence.

Also refer to my other 'Fibonacci' Codes for more context.